Polianta Ltd Invests $923,000 in Universal Display Co. (NASDAQ:OLED)
Polianta Ltd purchased a new position in Universal Display Co. (NASDAQ:OLED) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,500 shares of the semiconductor company’s stock, valued at approximately $923,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its position in Universal Display by 6.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,772 shares of the semiconductor company’s stock valued at $577,000 after acquiring an additional 233 shares in the last quarter. Swiss National Bank raised its position in Universal Display by 3.1% during the first quarter. Swiss National Bank now owns 77,200 shares of the semiconductor company’s stock valued at $11,800,000 after acquiring an additional 2,300 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in Universal Display during the first quarter valued at approximately $887,000. Rockefeller Capital Management L.P. raised its position in Universal Display by 2.7% during the first quarter. Rockefeller Capital Management L.P. now owns 3,224 shares of the semiconductor company’s stock valued at $493,000 after acquiring an additional 86 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Universal Display by 1.5% during the first quarter. Principal Financial Group Inc. now owns 185,058 shares of the semiconductor company’s stock valued at $28,286,000 after acquiring an additional 2,684 shares in the last quarter. 69.00% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on OLED. ValuEngine lowered shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup raised their price objective on shares of Universal Display from $180.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer downgraded Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 price target on the stock. in a report on Wednesday, July 10th. They noted that the move was a valuation call. BidaskClub downgraded Universal Display from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Susquehanna Bancshares reiterated a “negative” rating on shares of Universal Display in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Universal Display currently has a consensus rating of “Hold” and an average price target of $187.23.
Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.46 by $0.46. Universal Display had a return on equity of 16.52% and a net margin of 33.08%. The company had revenue of $118.17 million for the quarter, compared to the consensus estimate of $79.26 million. During the same quarter last year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 110.5% compared to the same quarter last year. Research analysts anticipate that Universal Display Co. will post 2.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 0.24%. Universal Display’s dividend payout ratio (DPR) is presently 32.26%.
In other news, insider Julia J. Brown sold 25,477 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $200.00, for a total value of $5,095,400.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director C Keith Hartley sold 185 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $159.57, for a total transaction of $29,520.45. Following the completion of the sale, the director now owns 93,669 shares in the company, valued at approximately $14,946,762.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,162 shares of company stock worth $27,561,029. Corporate insiders own 3.70% of the company’s stock.
Universal Display Company Profile
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
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